Thrivent Financial For Lutherans Sells 8,960 Shares of Qorvo, Inc. (QRVO)

Thrivent Financial For Lutherans lessened its stake in shares of Qorvo, Inc. (NASDAQ:QRVO) by 64.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,840 shares of the semiconductor company’s stock after selling 8,960 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Qorvo were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QRVO. NEXT Financial Group Inc lifted its holdings in shares of Qorvo by 2.1% during the 2nd quarter. NEXT Financial Group Inc now owns 2,370 shares of the semiconductor company’s stock valued at $150,000 after purchasing an additional 49 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Qorvo by 0.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,442 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 62 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Qorvo by 0.7% during the 1st quarter. Amalgamated Bank now owns 9,040 shares of the semiconductor company’s stock valued at $620,000 after purchasing an additional 64 shares during the last quarter. Federated Investors Inc. PA lifted its holdings in shares of Qorvo by 4.0% during the 2nd quarter. Federated Investors Inc. PA now owns 2,323 shares of the semiconductor company’s stock valued at $147,000 after purchasing an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Qorvo by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the semiconductor company’s stock valued at $500,000 after purchasing an additional 100 shares during the last quarter. 94.35% of the stock is currently owned by institutional investors and hedge funds.

Qorvo, Inc. (NASDAQ QRVO) opened at 69.92 on Monday. The firm’s 50 day moving average price is $71.97 and its 200-day moving average price is $70.78. The stock’s market cap is $8.90 billion. Qorvo, Inc. has a 1-year low of $48.28 and a 1-year high of $79.34.

Qorvo (NASDAQ:QRVO) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. Qorvo had a negative net margin of 1.40% and a positive return on equity of 10.10%. The company had revenue of $640.80 million during the quarter, compared to the consensus estimate of $632.18 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Qorvo’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts anticipate that Qorvo, Inc. will post $5.52 earnings per share for the current year.

Several analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $86.00 price objective on shares of Qorvo in a report on Sunday, September 17th. Cowen and Company reiterated a “hold” rating and set a $85.00 price objective on shares of Qorvo in a report on Sunday, September 17th. Instinet assumed coverage on Qorvo in a report on Wednesday, September 6th. They set a “neutral” rating and a $75.00 price objective for the company. Nomura assumed coverage on Qorvo in a report on Tuesday, September 5th. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Zacks Investment Research lowered Qorvo from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $73.45.

In other news, insider Robert A. Bruggeworth sold 4,320 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $68.19, for a total value of $294,580.80. Following the completion of the sale, the insider now directly owns 206,925 shares of the company’s stock, valued at $14,110,215.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Steven E. Creviston sold 6,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $72.27, for a total transaction of $433,620.00. The disclosure for this sale can be found here. Insiders sold 67,080 shares of company stock valued at $4,788,693 over the last ninety days. Corporate insiders own 0.91% of the company’s stock.

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Qorvo Profile

Qorvo, Inc is a provider of technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers (OEMs) and original design manufacturers (ODMs).

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Institutional Ownership by Quarter for Qorvo (NASDAQ:QRVO)

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